SOCIETE VOSGIENNE DES HOTELS ECONOMIQUES : revenue, balance sheet and financial ratios

In 2024, SOCIETE VOSGIENNE DES HOTELS ECONOMIQUES achieves revenue of 5.3 M€. Activity remains stable over the period (CAGR: -1.1%). Vs 2023: +7%. After deducting consumption (220 k€), gross margin stands at 5.1 M€, i.e. a rate of 96%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 862 k€, representing 16.2% of revenue. Positive scissor effect: EBITDA margin improves by +18.1 pts, sign of improved operational efficiency. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Net income is negative at -47 k€ (-0.9% of revenue), which will impact equity.

The debt ratio (= Financial debt / Equity x 100) stands at 76%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 43%. This high autonomy means the company finances most of its assets through equity, a sign of strength. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 8.3 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 7.3% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. Satisfactory level allowing partial financing of growth.

The liquidity ratio (= Current assets / Current liabilities) stands at 23.82. Concretely, the company has €2 of liquid assets for every €1 of short-term debt: no cash risk within 12 months. The interest coverage ratio (= EBIT / Interest expenses) is 28.9x. Operating income very largely covers interest expenses: high safety margin.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 1 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 192 days. Excellent situation: suppliers finance 191 days of the operating cycle (retail model). Inventory turnover is 2 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 10 days of revenue, i.e. 155 k€ to permanently finance. Over 2018-2024, WCR increased by +150%, requiring additional financing.

Based on 99 transactions of similar company sales in 2024, the value of SOCIETE VOSGIENNE DES HOTELS ECONOMIQUES is estimated at 3 656 541 € (range 1 140 204€ - 6 915 059€). With an EBITDA of 862 045€, the sector multiple of 4.8x is applied. The price/revenue ratio is 0.54x (in line with sector norms). This multiples method compares the actual sale price of similar companies to their financial indicators (Revenue, EBITDA, Net Income). It provides a market-based indicative estimate.
Medium reliability: estimate to be confirmed with in-depth analysis.